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SPY opened $1.22 higher and quickly tested support at $530 before reversing course to reach the high of the day at $535.73. SPY then continued this back-and-forth choppy price action moving in a very tight range from $532 to $535 for the rest of the day, eventually closing down 5 basis points at $53...
SPY opened $0.84 lower, testing support at $528 before gradually climbing to reach the day's high of $534.51. After a week of extreme volatility in both directions, the market took a breather today, with SPY trading in a relatively narrow $5 range, bouncing between $529 and $534. SPY ultimately clos...
The market initially fell overnight, getting close to testing Monday’s lows before finding comfort with the 8:30 am ET Weekly Jobless Claim data, which came in much lower than forecast. This eased fears of an impending recession and market participants pushed prices up in the premarket with SPY gapp...
The market rallied overnight on news the BOJ would not raise rates as long as markets remain under pressure. This came as a huge relief which saw the Nikkei reverse all of the losses incurred since last Friday. SPY opened up over $2 on the news and drifted higher, reaching $531.59 before market part...
Today the market sighed a bit of relief as SPY opened up over $2, after getting hammered yesterday on fears of a recession, the unwinding of the Yen carry trade and global risks in the Middle East. The markets were calmed by dovish comments by Fed speakers and a rally overnight in Japan, which rever...
A massive gap for SPY today, opening down over $21, getting absolutely crushed overnight on fears of a recession, the Yen carry trade unwinding and geopolitical risks facing the Middle East. While we still have a couple more weeks of earnings releases, most of the heavies that have supported the mar...
A massive gap for SPY today, opening down $6.24, falling overnight and with the 8:30 am ET Jobs Report which came in much lower than expected. The unemployment rate rose to $4.3%, the highest since October 2021. This bad economic news stoked fears of a broader economic slowdown which could lead to a...
A wild ride for the markets today with chip stocks leading the tech fueled sell off. After initially opening close to $1.75 higher, SPY hit a wall right at $555, the line in the sand we mentioned yesterday and several times in prior posts, and fell like a stone all the way back down to another level...
Another exciting day for the markets with lots to unpack. SPY gapped up close to $7 overnight, pausing at $547.50 until multiple economic reports released in the premarket added to the day’s excitement. By the open SPY was trading over $549 on its’ way to $553.50, the high of the day. SPY closed at ...
We had a minor technical issue yesterday with a software update and were unable to provide a post market report Monday evening. But our model is back online and we will do our best to recap both days in tonight’s report. Monday the market did not do much, finding resistance just above Friday’s highs...
A solidly green day for SPY with the market moving higher overnight, gapping up over $4 at the open and continuing to rise to overhead resistance at $547.17. An inline Core PCE report at 8:30 am ET contributed to about half of today’s gains. After reaching the high of the day, SPY retraced some, but...
Another red day for SPY, which perhaps felt worse than the numbers display. SPY opened up slightly, fell out of the gate to $537.64 before violently reversing, rallying all the way to the high of the day by 1 pm ET to $547.46. But as markets like to do, the squeeze was short lived and immediately so...
